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25 Passive Income Sources to Help You Make Money in 2023

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cheggindia60
25 Passive Income Sources to Help You Make Money in 2023

To remain alive and progress economically, everyone requires money. There are numerous ways to make it, which are often classified into active and passive revenue sources. The pandemic has demonstrated the value of passive income sources even though an active income is still required. As a result, this post will cover 25 passive income sources and explain how to generate passive money. Before discussing the sources of passive income, it is crucial to first comprehend what passive income is.Leasing or renting out property is the most popular and practical passive income source. Rental income is a reliable and simple form of passive income. To generate passive income from a property, it might be either residential or commercial. If the rental income is the only second source of income, it is paid monthly and is eligible for a tax break.

Book writing is another residual income among various passive income sources. A person with writing talent can publish books and get money from them. Nowadays, most people prefer reading e-books. Thus, this presents a possibility for a committed writer to produce e-books rather than traditional books. Because it is less expensive to publish an e-book than a traditional book, authors can make use of this platform. To earn from e-books, writers can contact Amazon or Flipkart. These platforms facilitate the publication of e-book at the lowest price and provide the opportunity to earn handsomely and passively.

In the wake of COVID-19, various activities went online, education is one of them. There are various types of courses are present in various disciplines. As a result, online courses may be a source of passive income for those working in the education sector or who have a passive interest in teaching. Individuals can design customized online courses and sell them on websites like Udemy and Unacademy to make passive income.

Link: https://www.cheggindia.com/earn-online/passive-income-sources/

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